BioMed Realty, Regeneron Break Ground on New Project

GREENBURGH, NY-BioMed Realty Trust held a groundbreaking ceremony on Monday for a new 300,000-square-foot research and development facility for Regeneron Pharmaceuticals at its Landmark at Eastview complex here.

San-Diego-based BioMed Realty officials say the cost of the project that will include both research and development and office space has been estimated at approximately $121 million.

A host of BioMed and Regeneron officials and political dignitaries were on hand for the groundbreaking event, including U.S. Sen. Charles Schumer, U.S. Congresswoman Nita Lowey, and Westchester County Executive Robert Astorino.

Leonard S. Schleifer, M.D., Ph.D., founder, president and chief executive officer of Regeneron, notes that the company opened its first laboratory at the Landmark at Eastview complex in 1989. "As Regeneron further expands its scientific discovery programs, advances new therapies and commercializes our robust development pipeline, Westchester County and The Landmark at Eastview continue to offer an optimal campus environment for our employees and to facilitate our growth,” Schleifer says. “This new facility will include design features to further propel our drug discovery and development forward and leverage the expertise of our real estate partner, BioMed Realty, which has supported our business since 2004 through a combination of new construction, adaptive re-use of different spaces and collaborative on-site management."

The company currently occupies approximately 675,000 square feet at the 1.16-million-square-foot campus. Upon completion in late 2015, Regeneron, which maintains its headquarters at Landmark at Eastview, will approach nearly one million square feet of space at the 116-acre property that would then total nearly 1.5-million square feet. The pharmaceutical firm will occupy the new building under a 15-year lease agreement with BioMed Realty.